Alice River Drilling Yields Broad 54m Intercept at 0.5g/t Gold Plus High-Grade Zones

Strong Drilling Results Bolster Mineral Resource Extensions

Queensland-focused gold explorer Pacgold Limited (ASX – PGO) has released assay results from the second batch of its 2025 reverse circulation (RC) drilling campaign at the Alice River Gold Project, located 300km northwest of Cairns. The 45 drill holes reported confirm significant widths of shallow gold mineralisation, extending the known Mineral Resource Estimate (MRE) at both the Southern and Central targets.

Noteworthy intersections include broad zones such as 54 metres at 0.5 grams per tonne (g/t) gold from 21 metres depth at the Southern Target, with internal higher-grade intervals reaching up to 18.5 g/t over one metre. These results reinforce the potential for near-surface open pit mining, with mineralisation remaining open to the north and beyond the current resource envelope.

Advancing High-Priority Targets and New Prospects

Drilling continues at the Victoria and Jerry Dodds prospects, where the company is testing strike and depth extensions of gold mineralisation. Meanwhile, the maiden drilling campaign at the White Lion prospect is set to commence in early September following heritage clearance. White Lion stands out as a compelling target, featuring a chargeable geophysical anomaly extending up to 1.2 kilometres in strike and 500 metres in width, situated just 50 to 80 metres below surface.

Complementing the RC program, Pacgold has completed a 4,608-metre Aircore drilling program across regional extensions, generating new targets southeast of Victoria and Jerry Dodds for future drilling. Additionally, a diamond drilling program has provided valuable core samples for structural interpretation and metallurgical testing, particularly at the Posie Prospect and northern sections of the Central Target.

Geological Context and Exploration Outlook

The Alice River Gold Project lies within a large intrusion-related gold system hosted in regional shear zones, with mineralisation typically occurring in quartz veins and breccias. The project covers approximately 377 square kilometres with multiple granted tenements, positioning Pacgold well within a prolific gold province that includes several multi-million-ounce deposits.

Pacgold’s Managing Director, Matthew Boyes, highlighted the significance of the White Lion target and the ongoing drilling campaign, emphasizing the potential for both open pit and underground mining scenarios. The company plans to continue extensive drilling and geophysical surveys over the coming months to refine resource models and explore new mineralised zones.